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Ideally, you would qualify for debt consolidation after graduation.However, you also could qualify when you leave school or are enrolled less than half-time.Maximum Loan Amount: None Interest Rate: Weighted average interest rate on the loans being consolidated, rounded to the nearest one-eighth of 1 percent, not to exceed 8.25 percent.Currently, the interest rate is fixed for the life of the loan. A PLUS loan made to the parent of a dependent student cannot be transferred to the student through consolidation.Therefore, a student who is applying for loan consolidation cannot include the PLUS loan the parent took out for the dependent student’s education.

The Direct Consolidation Loan program is the right choice if your goal is to simplify the process and keep your options open for the many repayment plans available for federal loans. Your rate is determined by the weighted average of the interest on the loans being consolidated rounded up to the nearest one-eighth of 1%.Learn more about the free services available to you.Don't Pay for Student Loan Help That's FREE How to Make a Student Loan Payment Servicemember Support - We're Here for You Mobile App for Your Student Loans Know Your Repayment Options Top Six Ways to Reduce What You Owe Considering Consolidation?You can consolidate Direct Student Loans using one of several income-based repayment plans and there are loan forgiveness programs.However, if you try to refinance a federal loan through a private lender, you will lose eligibility for things like forgiveness programs, deferment, forbearance, as well as the income-based repayment programs.

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Are you tired of managing multiple federal student loan payments, with multiple interest rates or multiple servicers? The program may allow you to consolidate your federal loans into one, and select the consolidation servicer of your choice.

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